For tax year 2025, an individual filer over 65 will be able to deduct up to $23,750 from their federal return.

The IRS has announced the annual inflation adjustments for the year 2025, including tax rate schedules, tax tables and ...

The standard deduction is bigger than ever, itemizing rules have changed, and new deductions complicate matters. Here’s how ...

The budget bill passed in July adds a new deduction for seniors that could eliminate taxes on social security for some.

The One Big Beautiful Bill Act (OBBBA), passed in mid 2025, reshapes how many families will file their 2025 taxes.

A new deduction will lower the tax bill for many older Americans this year. Taxpayers, however, need to ensure they qualify ...

It’s a decision that every taxpayer is faced with when choosing how to claim deductions on their federal tax return: Do you take the standard or do you itemize? Making the right choice could mean more ...

Social Security benefits remain taxable on federal income tax returns. But many older adults can save money with new enhanced deduction for seniors.

The "big beautiful" tax law lets older American couples potentially take up to $12,000 per year off their taxable income for ...

Discover which states are saving the most money from the One Big, Beautiful Bill Act and how residents are benefiting.

The IRS allows you to claim deductions that reduce the amount of tax you owe. Those deductions either are itemized deductions ...